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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 671.910.0%Nov 14 4:00 PM EST

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To: Matthew L. Jones who wrote (26524)9/21/1999 1:21:00 PM
From: pater tenebrarum  Read Replies (1) of 99985
 
Matt, who exactly is expecting the 'big one' aside from Luc Taurus? well-known crash prophet Peter Eliades e.g. recently stated "the time window for a crash has closed". mind you, i'm not predicting the 'big one' either, but allow me to remind you that great earnings and lots of investment cash are no guarantee it won't hit. in '29 U.S. corporate earnings were at a record high, and the investment trusts were flush with cash just before the crash. sorry for dredging up '29, i just wanted to point out that it's more a matter of confidence than earnings or cash on the sidelines that determines whether an extremely overvalued market can get even more overvalued.

regards,

hb
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